Did anyone read this about TDS?

[pakhitheboss]

It is time to create a new email addres and start using exchanges that are anonymous. From 1st of July the government will be collecting 1% TDS on both local and international exchanges that are operating in Indian.

What does the law on TDS on VDA, crypto say?
As per the new law, the purchaser of a virtual digital assets (VDA) is required to deduct 1% of the amount paid to the seller ( resident Indian) as income tax deducted at source (TDS). The tax is required to be deducted at the time of credit of amount or at the time of payment to the resident individual, whichever is earlier. The tax will be deducted only if the amount paid exceeds the specified limit, stated CBDT.

Source

[teosanru]

It is time to create a new email addres and start using exchanges that are anonymous. From 1st of July the government will be collecting 1% TDS on both local and international exchanges that are operating in Indian.

What does the law on TDS on VDA, crypto say?
As per the new law, the purchaser of a virtual digital assets (VDA) is required to deduct 1% of the amount paid to the seller ( resident Indian) as income tax deducted at source (TDS). The tax is required to be deducted at the time of credit of amount or at the time of payment to the resident individual, whichever is earlier. The tax will be deducted only if the amount paid exceeds the specified limit, stated CBDT.

Source

I think. Everyone in the Indian crypto community is very well aware of this news, but anonymous Exchanges won't really be an option because in India all the exchanges have that clause of doing KyC before you can operate on them while if you use the foreign exchanges you won't get the facility to buy in INR or even sell in INR, the only way you'll be able to sell INR is Indian exchanges where eventually you'll have to get you Tds deducted.

[pawanjain]

Yes ofcourse, TDS of 1% was in the news from quite some time now and we just didn't knew when is the government actually planning on to implement it.
Recently there's another news that's spreading FUD in the market which says an additional 28% tax will be levied as GST on the already 30% tax.
The retarded government is playing it smart to get people completely out of crypto investments.

source: https://www.msn.com/en-us/money/other/28-25-gst-on-crypto-transactions-india-is-reportedly-mulling-another-tax-levy-next-week/ar-AAYLXUC?fromMaestro=true

[pakhitheboss]

Yes ofcourse, TDS of 1% was in the news from quite some time now and we just didn't knew when is the government actually planning on to implement it.
Recently there's another news that's spreading FUD in the market which says an additional 28% tax will be levied as GST on the already 30% tax.
The retarded government is playing it smart to get people completely out of crypto investments.

source: https://www.msn.com/en-us/money/other/28-25-gst-on-crypto-transactions-india-is-reportedly-mulling-another-tax-levy-next-week/ar-AAYLXUC?fromMaestro=true

Welcome back mate!
I haven't seen you being active on this board for quite sometime now. There are a very few who literally respond or create genuine topics on this board now days.

Coming back to your reply. I do not think that is a FUD, the government has gone crazy and they will add GST sometime in the coming days. I also feel they will not implement such a huge percentage.

I also strongly feel that we create a service within this forum wherein those who are active and have a rank above Member can help each other by selling/ buying Bitcoin for INR using an escrow service provided by some forum members. What do you think?

[pawanjain]

Yes ofcourse, TDS of 1% was in the news from quite some time now and we just didn't knew when is the government actually planning on to implement it.
Recently there's another news that's spreading FUD in the market which says an additional 28% tax will be levied as GST on the already 30% tax.
The retarded government is playing it smart to get people completely out of crypto investments.

source: https://www.msn.com/en-us/money/other/28-25-gst-on-crypto-transactions-india-is-reportedly-mulling-another-tax-levy-next-week/ar-AAYLXUC?fromMaestro=true

Welcome back mate!
I haven't seen you being active on this board for quite sometime now. There are a very few who literally respond or create genuine topics on this board now days.

Coming back to your reply. I do not think that is a FUD, the government has gone crazy and they will add GST sometime in the coming days. I also feel they will not implement such a huge percentage.

I also strongly feel that we create a service within this forum wherein those who are active and have a rank above Member can help each other by selling/ buying Bitcoin for INR using an escrow service provided by some forum members. What do you think?

You mean a P2P trade for forum members of Indian sub with an escrow. Sounds good.
But again, just like there are very few active members on this board so the number of trades will be too slim.
At least, it's better than nothing. We already have a telegram group so may be we can use that before placing trades on exchanges.
If we get a P2P trade from our telegram channel then well and good, otherwise we can still proceed with exchanges in case of emergencies.

What an irony. This makes me remember the good old days. My early days in crypto were just the same.
We used to buy and sell bitcoin using the P2P trades back then and I guess those days are coming back.
It's time to grow our network of trusted members. I already have some though. May be this will help us evading tax.
I hope webtricks doesn't read this else he will start with tax evasion and stuff. Lol  . I'm kidding webby!!

[webtricks]

It's time to grow our network of trusted members. I already have some though. May be this will help us evading tax.
I hope webtricks doesn't read this else he will start with tax evasion and stuff. Lol  . I'm kidding webby!!

[pakhitheboss]

Yes ofcourse, TDS of 1% was in the news from quite some time now and we just didn't knew when is the government actually planning on to implement it.
Recently there's another news that's spreading FUD in the market which says an additional 28% tax will be levied as GST on the already 30% tax.
The retarded government is playing it smart to get people completely out of crypto investments.

source: https://www.msn.com/en-us/money/other/28-25-gst-on-crypto-transactions-india-is-reportedly-mulling-another-tax-levy-next-week/ar-AAYLXUC?fromMaestro=true

Welcome back mate!
I haven't seen you being active on this board for quite sometime now. There are a very few who literally respond or create genuine topics on this board now days.

Coming back to your reply. I do not think that is a FUD, the government has gone crazy and they will add GST sometime in the coming days. I also feel they will not implement such a huge percentage.

I also strongly feel that we create a service within this forum wherein those who are active and have a rank above Member can help each other by selling/ buying Bitcoin for INR using an escrow service provided by some forum members. What do you think?

You mean a P2P trade for forum members of Indian sub with an escrow. Sounds good.
But again, just like there are very few active members on this board so the number of trades will be too slim.
At least, it's better than nothing. We already have a telegram group so may be we can use that before placing trades on exchanges.
If we get a P2P trade from our telegram channel then well and good, otherwise we can still proceed with exchanges in case of emergencies.

What an irony. This makes me remember the good old days. My early days in crypto were just the same.
We used to buy and sell bitcoin using the P2P trades back then and I guess those days are coming back.
It's time to grow our network of trusted members. I already have some though. May be this will help us evading tax.
I hope webtricks doesn't read this else he will start with tax evasion and stuff. Lol  . I'm kidding webby!!

I am working on it. I will never use telegram. I will create an ANN and share in that group.

[pawanjain]

Yes ofcourse, TDS of 1% was in the news from quite some time now and we just didn't knew when is the government actually planning on to implement it.
Recently there's another news that's spreading FUD in the market which says an additional 28% tax will be levied as GST on the already 30% tax.
The retarded government is playing it smart to get people completely out of crypto investments.

source: https://www.msn.com/en-us/money/other/28-25-gst-on-crypto-transactions-india-is-reportedly-mulling-another-tax-levy-next-week/ar-AAYLXUC?fromMaestro=true

Welcome back mate!
I haven't seen you being active on this board for quite sometime now. There are a very few who literally respond or create genuine topics on this board now days.

Coming back to your reply. I do not think that is a FUD, the government has gone crazy and they will add GST sometime in the coming days. I also feel they will not implement such a huge percentage.

I also strongly feel that we create a service within this forum wherein those who are active and have a rank above Member can help each other by selling/ buying Bitcoin for INR using an escrow service provided by some forum members. What do you think?

You mean a P2P trade for forum members of Indian sub with an escrow. Sounds good.
But again, just like there are very few active members on this board so the number of trades will be too slim.
At least, it's better than nothing. We already have a telegram group so may be we can use that before placing trades on exchanges.
If we get a P2P trade from our telegram channel then well and good, otherwise we can still proceed with exchanges in case of emergencies.

What an irony. This makes me remember the good old days. My early days in crypto were just the same.
We used to buy and sell bitcoin using the P2P trades back then and I guess those days are coming back.
It's time to grow our network of trusted members. I already have some though. May be this will help us evading tax.
I hope webtricks doesn't read this else he will start with tax evasion and stuff. Lol   . I'm kidding webby!!

I am working on it. I will never use telegram. I will create an ANN and share in that group.

Let's create a thread specifically to discuss how we can take it further. You should take the lead.
Besides that, I think that why should our trades be public. Shouldn't there be some kind of privacy.
Hence I suggested the telegram channel.

[pakhitheboss]

Yes ofcourse, TDS of 1% was in the news from quite some time now and we just didn't knew when is the government actually planning on to implement it.
Recently there's another news that's spreading FUD in the market which says an additional 28% tax will be levied as GST on the already 30% tax.
The retarded government is playing it smart to get people completely out of crypto investments.

source: https://www.msn.com/en-us/money/other/28-25-gst-on-crypto-transactions-india-is-reportedly-mulling-another-tax-levy-next-week/ar-AAYLXUC?fromMaestro=true

Welcome back mate!
I haven't seen you being active on this board for quite sometime now. There are a very few who literally respond or create genuine topics on this board now days.

Coming back to your reply. I do not think that is a FUD, the government has gone crazy and they will add GST sometime in the coming days. I also feel they will not implement such a huge percentage.

I also strongly feel that we create a service within this forum wherein those who are active and have a rank above Member can help each other by selling/ buying Bitcoin for INR using an escrow service provided by some forum members. What do you think?

You mean a P2P trade for forum members of Indian sub with an escrow. Sounds good.
But again, just like there are very few active members on this board so the number of trades will be too slim.
At least, it's better than nothing. We already have a telegram group so may be we can use that before placing trades on exchanges.
If we get a P2P trade from our telegram channel then well and good, otherwise we can still proceed with exchanges in case of emergencies.

What an irony. This makes me remember the good old days. My early days in crypto were just the same.
We used to buy and sell bitcoin using the P2P trades back then and I guess those days are coming back.
It's time to grow our network of trusted members. I already have some though. May be this will help us evading tax.
I hope webtricks doesn't read this else he will start with tax evasion and stuff. Lol   . I'm kidding webby!!

I am working on it. I will never use telegram. I will create an ANN and share in that group.

Let's create a thread specifically to discuss how we can take it further. You should take the lead.
Besides that, I think that why should our trades be public. Shouldn't there be some kind of privacy.
Hence I suggested the telegram channel.

Hmm! That is also correct privacy is highly required. What do you suggest with Telegram? I mean we need to evaluate based on activity on the forum as I was thinking about every indian here gets the benefit.

Let me create a telegram channel and a post on the service  section with some criterias and accordingly we more further. What do you think?